Are you a business owner in Singapore looking to expand your operations and reach new markets? Considering entry into a new market or expanding an existing one overseas? The MRA grant offers the financial boost you need to make it happen.
This grant aims to help businesses enhance their international competitiveness and expand their footprint in new markets.
So, let’s dive in and explore how the MRA can support your business expansion goals in Singapore and beyond.
What is the Market Readiness Assistance (MRA) Grant?
The purpose of the MRA grant is to support Singapore owned businesses for business development, promotion, and set-up costs when you enter a new foreign market for expansion.
Due to the disruptions caused by the COVID-19 pandemic, implemented enhanced grant support levels for a limited time period. This aims to promote the revitalization of the economy and aid Singapore businesses in building greater resilience following the pandemic.
Key Benefits of Singapore MRA Grant
The Singapore Market Readiness Assistance (MRA) Grant offers numerous benefits for businesses venturing into international markets.
UP TO 50% OF ELIGIBLE COSTS COVERED
The grant covers up to 50% of eligible costs for Local SMEs, with specific caps for different activities and limited to a maximum of S$100,000 per new market and may include:
Currently, from April 1, 2023 to March 31, 2025, the grant covers up to 50% of eligible costs, capped at S$100,000.
Importantly to take note:
- Each MRA grant application is restricted to one activity per overseas market,
- No pre-approved vendors. However, companies should select a consultant from EnterpriseSG’s list for Free Trade Agreement (FTA) and Trade Compliance consultancy services.
- All MRA claims are subject to audit by EnterpriseSG’s Pre-Qualified Panel, with audit costs supported by EnterpriseSG, as per the Letter of Offer. Companies must ensure all necessary documents are submitted to their chosen auditor before claiming via the Business Grant Portal.
Eligibility Criteria and Requirements for MRA Grant
Application process for the MRA Grant in Singapore
Find Out How Much is Your MRA Grant!
Talk with us to learn more about your MRA Grant!
Tax Incentives for Singapore Businesses
Singapore’s tax incentives play a crucial role in fostering business growth and international expansion. These incentives are design to attract foreign investment, promote innovation, and enhance competitiveness in the global marketplace. Key aspects of Singapore’s tax framework include:
Your Questions, Answered
We’ve handpicked the top questions that we get asked a lot when it comes to MRA Grant in Singapore.
MRA GRANT ARTICLES
Access guides and content on MRA and business expansion below.
Here are usually get from SMEs as MRA consultants regarding MRA FAQ Grant.
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